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Changing trade patterns, unchanging European and global governance


If our projections to 2020 are broadly right, then many established frameworks for the running of the world economy and its governance are not going to be fit for purpose, and will need to change. The global monetary system itself, and global organisations such as the IMF, G7, and G20 are going to have to adapt considerably if they want to remain legitimate representatives of the world order. The alternative is their relegation to irrelevance.

http://www.bruegel.org/publications/publication-detail/publication/817

Jim O'Neill's wish is too little, too late - "it is high time the #IMF welcomes the recognition of #China’s rise by including the #RMB at its earliest convenience."




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